Friday's USDA Crop Production report -- the same one that, last year at
this time, set into motion a bullish swing in the corn market -- does foreshadow
the need for an acreage shift in 2008. But, which crop will see the greatest
shift next year?
Just weeks ago, it seemed wheat may be poised to see the
largest bump in acres, but analysts said this week that some key signs may
indicate the tide is turning toward more beans. But, don't forget about
"Prospects for a sharp decline in U.S. soybean stocks by the end of the
2007-08 marketing year suggest that an increase in U.S. soybean production, and
therefore acreage, will be required in 2008," University of Illinois Extension
economist Darrel Good said this week.
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3 years ago